February 27 ,2016 | by Thiago Kiwi

Businesses need fast broadband to thrive, says Sajid Javid

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Businesses need “fast, reliable connectivity” in order to thrive, according to business secretary, Sajid Javid. In a speech to the EEF, the manufacturer’s organisation, Javid announced a review that will provide affordable and high-quality broadband for businesses.

The announcement comes after research found that slow broadband causes businesses to lose up to a full day’s work. A recent study by Virgin Media Business found that having a slow connection is the biggest time waster for small businesses, whilst research from YouGov found that the average employee loses around 15 minutes a day as a result of slow broadband.

Frustrated

A report from the Federation of Small Businesses (FSB) found that many businesses are frustrated due to not receiving quality broadband services.

The report, titled Reassured, optimised, transformed: driving digital demand among small businesses, showed what businesses expect to receive from a broadband service and what they actually get.

Javid is now hoping to build on the government’s superfast broadband scheme, which will see 95 per cent of UK businesses being given access to speeds of 24Mbps or faster by 2017.

Forefront

In his speech to the EEF, Javid stated that he wants Britain to be “at the forefront of the fourth industrial revolution” and to “lead the world in innovation.”

Javid said: “Developing new technologies, an extensive digital infrastructure, vibrant competition and consumer choice are all vital for UK businesses and central to the UK being at the forefront of ‘Industry 4.0.’”

He added that he wants every business, “regardless of size or location”, to benefit from access to the fast, reliable connectivity they need in order to thrive. 

 

Thiago Kiwi

Thiago is the LSBF Blog Editor who manages news and features content on the site, and writes about business, finance, technology, education and careers.

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